CC Neuberger Principal Holdings III
PRPC-UN
New York Stock Exchange10.95
USD
-0.03
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CC Neuberger Principal Holdings III
PRPC-UN
(New York Stock Exchange)
Recent
price
10.95
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- CC Neuberger Principal Holdings III is a special purpose acquisition company (SPAC) formed primarily to effect business combinations such as mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar transactions with one or more businesses. The company does not engage in commercial operations and does not manufacture or sell products or services itself; rather, it raises capital to acquire or merge with a target company that operates in various industries. Founded in 2020, it is headquartered in New York, New York. The company was established through a $402.5 million initial public offering in February 2021 led by management from CC Capital and Neuberger Berman, targeting sectors with long-term growth potential, strong competitive advantages, consolidation opportunities, and significant recurring revenue streams. The company’s recent major developments include the decision by its board in late 2023 to liquidate and cease operations following the decision not to proceed with an extension for pursuing additional business combinations. This liquidation marks a significant operational change, with a share redemption price set at approximately $10.93 and trading suspension imminent. Prior to this, the company had been actively searching for acquisition targets in various sectors without limitation to geography or industry, leveraging its flexible blank check structure to pursue opportunistic investments. CC Neuberger Principal Holdings III operates as an investment holding vehicle, backed by CC Capital and Neuberger Berman, aimed at providing investors with exposure to diverse industry sectors through its merger and acquisition activities. Its strategic focus includes businesses with high entry barriers and potential for operational improvements, yet it has not completed any business combination or operational transition before the liquidation decision. The company’s parent affiliation with Neuberger Berman aligns it with a broader strategic platform of investment vehicles focused on opportunistic capital solutions. In summary, CC Neuberger Principal Holdings III is a New York-based SPAC established in 2020 to pursue acquisitions across various sectors. It raised over $400 million through an IPO but announced liquidation and cessation of trading in 2023 without completing a business combination, reflecting a strategic shift away from its initial acquisition goals. The company’s financial vehicle model, alongside its ties to CC Capital and Neuberger Berman, situates it within a network of investment platforms focused on capital deployment via mergers and acquisitions rather than operating businesses directly.
CC Neuberger Principal Holdings III Announces Pricing of $350 Million Initial Public Offering